Auto Refinancer Pleads Guilty To FraudScheme

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INDEPENDENCE, Mo. - (04/10/06) -- The former owner of an automobilerefinance company pleaded guilty to federal fraud charges last weekthat he kept more than $270,000 issued by Mazuma CU for member carpurchases and used it for his own business. Gary Croner, 46, whoowned Automotive Financial Services, obtained financing forindividuals from the credit union, but instead of using the fundsto pay off outstanding loans on the vehicles he used the creditunion payments to finance his own business. As a result, at least13 borrowers received delinquent payment notices. Mazuma CU lostmore than $277,000 on the scheme, authorities said.

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